Any thoughts around real estate investment during these times? Are there any talks of a bubble or housingprices decreasing given the COVID market conditions and unfavorable job market? I’m both interested in buying a bigger home for my wife and I, and also an investment property in the NC mountains that can serve to be both a weekend getaway for us, and Airbnb when we are not using it. Prelim budget is $500K for primary home, and $260K max for vacation home. Gross salary currently $260K

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It’s kind of cliche, but as long as you have the Dave Ramsey “baby steps” completed you should be fine COVID or not. Can you pay cash for either of the properties and planning to hold them both long term? You can weather any short term fluctuations in the housing market if you own the home outright and not have to worry about selling at a loss to get out of the mortgage and if you plan holding for decades then who cares what happens over the course of 1 or 2 years. You’ve got an awesome salary, so save aggressively to try and accomplish that.

Making $260 I don’t think you’ll be over extending yourself with those two mortgages. It’s just in times of economic uncertainty id advise not to take on too much leverage. But if you feel secure with your job and have a robust emergency fund in place these homes should be within your budget. Just realize you’ll be paying a few hundred dollars in PMI for the homes.

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